BMO Capital Markets Increases TC Energy (TSE:TRP) Price Target to C$66.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price raised by BMO Capital Markets from C$55.00 to C$66.00 in a report published on Friday morning,BayStreet.CA reports.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their price target on TC Energy from C$66.00 to C$60.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Barclays upped their price target on shares of TC Energy from C$66.00 to C$67.00 in a research note on Monday, October 21st. Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and upped their target price for the stock from C$62.00 to C$78.00 in a research report on Friday, October 25th. ATB Capital lifted their price target on shares of TC Energy from C$64.00 to C$65.00 in a research report on Friday. Finally, Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$66.15.

TC Energy Stock Up 1.9 %

Shares of TC Energy stock opened at C$69.10 on Friday. TC Energy has a one year low of C$43.83 and a one year high of C$69.61. The company has a market cap of C$71.86 billion, a P/E ratio of 20.49, a PEG ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The firm has a fifty day moving average of C$63.74 and a two-hundred day moving average of C$57.73.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. On average, analysts forecast that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.113 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 dividend on an annualized basis and a dividend yield of 6.44%. TC Energy’s payout ratio is 116.01%.

Insider Activity at TC Energy

In other news, Director Richard Prior sold 3,000 shares of TC Energy stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total value of C$132,000.00. In related news, Senior Officer Dawn Elizabeth De Lima purchased 555 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average price of C$62.82 per share, with a total value of C$34,865.66. Also, Director Richard Prior sold 3,000 shares of TC Energy stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total transaction of C$132,000.00. Over the last 90 days, insiders have sold 74,914 shares of company stock valued at $4,632,785. Company insiders own 0.03% of the company’s stock.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.